Investor Presentation Full Year 2021
16
Investor presentation
Full year 2021
Attractive capital allocation to shareholders
DKK
billion
Annual cash return to shareholders
50
40
40
30
17
15
20
20
7
8
00
10
10
22
20
20
8
16
12
13
14
0
2019
2020
Dividend
Interim dividend
2021
2022E¹
Share repurchase
Capital allocation
Novo NordiskⓇ
• The proposed total dividend per share increased 14.3% to DKK 10.40
(including interim dividend of DKK 3.50 per share paid in August 2021)
• Return of free cash flow through both share buy-backs and dividends
• Dividend per share increasing for 26 consecutive years
• For 2022, a new share repurchase programme of up to DKK 22 billion is
expected
1 For 2022, expected free cash flow is DKK 50-55 billion;
Note: Share repurchase programmes run for 12 months starting in February. The total programme may be reduced in size if significant business development opportunities arise during 2022View entire presentation